Transcat Completes Acquisition of CMC Instrument Services, Inc. |
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Transcat, Inc.
35 Vantage Point Drive
Rochester, NY, 14624
USA
Press release date: April 5, 2011
o Furthers strategy to expand market share in calibration services through acquisitions o Fourth calibration services acquisition in less than two years
ROCHESTER, NY, April 5, 2011 - Transcat, Inc. (Nasdaq: TRNS) ("Transcat" or the "Company"), a leading distributor of professional grade handheld test and measurement instruments and accredited provider of calibration, repair and weighing system services, announced today that it has completed the acquisition of substantially all of the assets of CMC Instrument Services, Inc ("CMC"). The purchase was an all cash transaction although terms were not disclosed. The acquisition further expands Transcat's presence in the Rochester, New York calibration services market.
CMC has been servicing customers in Western New York since 1995. Their primary focus has been dimensional calibration and repair. Chris Morse, CMC's Founder and President will join Transcat working in the Company's Rochester location.
Charles P. Hadeed, President, CEO and COO of Transcat, commented, "Our strategy is to grow our calibration and repair services business both organically and through acquisitions by targeting our current geographic markets where we can consolidate services and gain scale or that extend our geographic reach.
"We are pleased to have Chris join our team. Transcat intends to build on the high quality reputation that CMC has established with its customers by providing a much broader range of calibration capabilities both in our lab and at the customers' locations."
ABOUT TRANSCAT Transcat, Inc. is a leading distributor of professional grade handheld test and measurement instruments and accredited provider of calibration and repair services primarily for the pharmaceutical and FDAregulated, industrial manufacturing, energy and utilities, chemical manufacturing, and other industries.
Through its distribution products segment, Transcat markets and distributes national and proprietary brand instruments to nearly 14,000 customers. The Company offers access to more than 25,000 test and measurement instruments. Transcat delivers precise, reliable, fast calibration, and repair services across the United States, Canada and Puerto Rico through its 14 strategically located Calibration Centers of Excellence. Transcat's calibration laboratories are ISO-9001 registered and the scope of accreditation to ISO/IEC 17025 is believed to be one of the broadest in the industry.
Transcat's growth strategy is to expand both its distribution products and calibration services in markets that value product breadth and availability and rely on accredited calibration services to maintain the integrity of their processes. More information about Transcat can be found on its website at: www.transcat.com
For more information contact: John Zimmer, Chief Financial Officer Phone: (585) 352-7777 Email: jzimmer@transcat.com OR Deborah Pawlowski, Investor Relations Phone: (716) 843-3908 Email: dpawlowski@keiadvisors.com
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